The invention relates generally to children""s educational games, and more particularly to an Internet-based game for teaching personal values and financial responsibility to a younger child.
In 1995, American children between the ages of 4 and 12 spent $24 billion of their own money. Also, children influenced how their parents"" money was spent. A study estimated that children between the ages of 4 and 18 influenced family expenditures of another $500 billion in 1995.
Due to varying social changes in family life, e.g., fewer children per family, a rise in the number of single parent families, older parents and dual-income families, children are becoming knowledgeable consumers at younger ages. With fewer children per family, parents have more money to spend for each child. With the rise in the number of single parent families, many children assume more home related and purchasing responsibilities at younger ages. With the rise in the age of new parents in the work force, older parents are often in a better financial position to provide more money to be spent on their children. With both parents working, children often have more money and more responsibilities.
Since children at earlier and earlier ages have larger amounts of disposable monies and in some cases have responsibilities of purchasing food, clothing, or school supplies, or are purchasing toys and games, movies, arcade games on their own, many parents have recognized a need for educating their children in financial matters. The risk of a non-financially educated child losing or mismanaging real money is serious. Parents have looked to schools for help.
Attempts have been made to educate younger children in financial matters in our schools, but our schools are just not doing the job well enough. Hereinthroughout, the terms xe2x80x9cyounger childxe2x80x9d or xe2x80x9cyounger childrenxe2x80x9d mean a child or children in the age group of 8 years old to 12 years old. Even our older children are not making good, or even adequate, financial grades. A recent survey of xe2x80x9cPersonal Financial Informationxe2x80x9d completed by 12th graders from across the country showed that the 12th graders only scored 51.9% on the survey. These older children were weakest in financial matters such as money management, savings and investment and credit.
Parents have tried to supplement their younger child""s financial education using financial education products such as, books, websites, on-line games, off-line games (board games) and toys. It is known to provide games for teaching financial skills to players; such known games are disclosed in U.S. Pat. Nos. 6,106,300, 6,032,957, 5,826,878, 4,913,446, 4,856,788. It is also known to provide on-line computer websites geared to teaching children financial concepts such as Bonus.com""s (http://www.bonus.com) xe2x80x9cMoney Centerxe2x80x9d games (which are similar to board games), The Stock Market Game(trademark) (http://www.smgww.org), and xe2x80x9cKids Money Centsxe2x80x9d (http://www.kidsmoneycents.com, an off shoot of the popular xe2x80x9cDollars and Cents,xe2x80x9d book and money management camp for kids). With today""s children being raised in an environment of fun entertainment such as video games and MTV, these aforementioned financial education products provide fun without the financial content, or financial content without fun.
In addition, some financial institutions (including asset based money management companies) have tried to help parents by offering programs geared to educating children in financial matters. It is known for financial institutions to provide on-line computer web-based game sites geared to teaching children (typically children ages 3-6 or high school students) financial concepts; for example, these include Fleet Bank""s xe2x80x9cFleet Kidsxe2x80x9d (http://www.fleetkids.com), Aetna Financial Services"" xe2x80x9c2020 Greenxe2x80x9d (http://www.2020green.com), Republic Bank of Florida""s xe2x80x9cCoolbank.comxe2x80x9d (http://www.coolbank.com), Firstar Bank""s xe2x80x9cEscape from Knabxe2x80x9d (http://www.escapefromknab.com), Chase Manhattan Bank""s xe2x80x9cSmart Centsxe2x80x9d (http://www.chase.com/chase/SmartCents), Sovereign Bank of New England""s xe2x80x9cKidsbank.comxe2x80x9d (http://www.kidsbank.com), Liberty Financial Companies xe2x80x9cYoung Investorxe2x80x9d (http://younginvestor.com), and Consumer Credit Counseling Service of the Mississippi River Valley et al.""s xe2x80x9cWise Pocketsxe2x80x9d (http://wisepockets.com).
These on-line sites have problems in introducing adult financial concepts at a level suitable for a child, e.g. simplifying adult concepts for kids, in mimicking a financial text book without providing entertainment value or in providing some entertainment value while providing little or no further learning of financial concepts in terms of providing a xe2x80x9ckid economyxe2x80x9d for investing, trading and communicating in the community. Furthermore, most financial institutions treat younger children as small adults, providing the children with credit cards, debit cards and on-line banking, but failing to provide them with a context in which to use these adult financial tools and failing to recognize that each generation has different financial needs than that of its parents.
It is also known to provide free reading motivation programs for children in grades K-8 via the web, for example xe2x80x9cBook Adventurexe2x80x9d (http://www.bookadventure.com), by giving points for mastery of materials. It is also known to provide an Internet-based store, school catalog and on-line merchants with parents and the community to raise money for schools K-12 nationwide, as for example, xe2x80x9cSchoolpopxe2x80x9d (http://www.schoolpop.com). Furthermore, it is known to provide children""s game sites via the web where kids can accumulate points by playing games and trading points for collectibles and swap collectibles with other kids as for example, Nickelodeon""s (http://www.nick.com). However, neither xe2x80x9cSchoolpopxe2x80x9d nor xe2x80x9cBook Adventurexe2x80x9d nor Nickelodeon provide an adventure story content for teaching financial concepts, nor do they provide the younger child with real-world learning opportunities by providing an elaborate kid economy for investing, trading and communicating in the community. Nor do the aforementioned websites provide back-end technology for xe2x80x9cnear-moneyxe2x80x9d (i.e. non-financial units of value which behave in ways similar to financial currencies) and customer profiling applications.
Typically, neither schools nor the family provide younger children with enough tools to understand the abstract and complex notions about money and finances. Nor is this shortcoming met by financial institutions. Younger children need opportunities to experience the realities of markets without incurring all of the risks. Parents and teachers are in need of better ways to provide younger children with a concrete understanding of the abstract concepts surrounding financial markets and monetary systems, in ways that the children understand and are comfortable with.
What is needed is a fiscally safe enviroment, geared to engage younger children""s interests and compatible with their developmental stage which holds their interest through stories and activities to teach them personal values and financial responsibility, and which provides rewards to them for their efforts. What is also needed is a technology which is enlargeable for near-money and customer profiling applications.
The present invention includes an Internet-based game that engages the younger child through activities that mitigate financial risk and closely mimic a child""s values. The game is for teaching personal values and financial responsibility to the younger child. It is an on-line interactive computer based game that integrates entertainment, education and commerce, providing a concrete understanding of an ever-complicated financial system to the younger child. The game comprises a set of computer interactive selectable game events, a scoring system in playing the game events and indicia of account information associated with the younger child. The game events have an adventure story activity and an educational activity. The adventure story activity has a selectable story element.
The younger child is given an award for scoring while playing the game. The scoring system includes an assignment of an award; the award includes a virtual collectible creature. The virtual collectible creature has an artificial intelligence characteristic and a characteristic mimicking a financial instrument. The assignment of the award also includes an assignment of points. The indicia of account information includes information about the virtual collectible creature. The indicia of account information also includes information on a tally of the points and information on an investment of the points.
In part, the present invention is a method of providing the aforementioned Internet-based game for teaching personal values and financial responsibility to a younger child. The method comprising the steps of: (1) providing the aforementioned Internet-based game of the present invention for teaching personal values and financial responsibility to the child; (2) providing the child with access to the adventure story activity and providing the selectable story element for the child to select; (3) providing the child with the interactive game events for the child to interact with and providing the assignment of the award for the child to receive; and (4) providing the account information for the child to review. The award includes the virtual collectible creature.
In part, the present invention includes a virtual collectible creature comprising an artificial intelligence characteristic and a characteristic mimicking a financial, instrument. The game of the present invention is based on the inventors"" research into younger children""s play activities to establish and define values, both personal and financial. The meaning of value to younger children varies depending on the context of purchasing items, for instance purchasing in an adult economy or play purchasing in a game economy.
Younger children often access the adult economy through limited outlets, namely visits to supermarkets, discount/retail stores, convenience stores and fast food restaurants or stores. Thus some of the younger children have a limited experience of the adult economy""s concept of xe2x80x9creal value.xe2x80x9d The younger child may encounter real value of an item when purchasing a toy or a food type items. In the adult economy, value is based on xe2x80x9creal valuexe2x80x9d in an open market. An example of the real value of an item is the retail price of an item like a toy or a food purchase, such as a loaf of bread.
Since younger children have experience with board games, yet another type of value is identified by these children. In the board game market, typically items have xe2x80x9cplay value.xe2x80x9d The play value is a value given to an item which may be purchased only in a limited context of a given play scenario. An example of xe2x80x9cplay valuexe2x80x9d is xe2x80x9cMonopoly Money,xe2x80x9d used in the MONOPOLY(copyright) board game to purchase, an item, such as a hotel in the board game.
The inventors have discovered still yet another type of value recognized by the younger child. The inventors have discovered that younger children value certain items differently than adults, assigning to an item a xe2x80x9ckid value.xe2x80x9d The xe2x80x9ckid valuexe2x80x9d is defined herein as items with or without real value that have significant value to younger children. Some items, with or without real value, that are non-food related and that have significant value to younger children are classified into four types of collectible items. The four types of collectible items are: fashion items (wearables, e.g., clothing, shoes, patches, pins and trinkets), fantasy items (dolls, action figures, books toys, make-up, clothing, sports equipment and team-affiliated clothing), celebrity items (sports wear and shoes associated with sports figures, sports cards, posters and stickers) achievement items (trophies, badges, certificates, completed collections (e.g., stamps, toy cars, toys)) and indicia of winnings, such as, but not limited to, marbles won in a game or toys won at a fair or carnival.
The terms xe2x80x9ckid valuexe2x80x9d or xe2x80x9ckid valuesxe2x80x9d is defined herein as a value assigned to an item which is determined by the activity in which younger children and their items are engaged and by play potential inherent in that particular object. As used herein, the term xe2x80x9cengagedxe2x80x9d means to cause the younger child to be interested in the activity and to keep thinking about it, or to attract and keep the younger child interested in the activity.
Play potential is defined by, but is not limited to, the following variables: potential play-length inherent in an object, potential for social interaction inherent in an object, a positive personal memory evoked by a particular object for the child, level of difficulty in obtaining a particular object, story value surrounding the object, unique qualities of any particular object or set of objects, scarcity of a particular object, and value of a particular object within close social relationships.
The inventors discovered six distinct child play activities that have significant value to younger children and which are directly correlated to adult financial management responsibilities. The child play activities are conquer (or master), compare (or trade), create (or pretend), commemorate, compete, and construct. These child play activities are directly correlated with following respective adult financial management activities: specializing in a given area, evaluating (or analyzing), considering scenarios, celebrating success, competing and manufacturing, respectively.
The game of the present invention engages younger children through these six child play activities to provide a better understanding of financial concepts to better understand the real value of an item and/or of an economic system. The game of the present invention includes teaching of financial concepts through the game activities. The financial concepts include but are not limited to, savings, credit, investment, interest, dividends, spending, scarcity, risk vs. safety, price vs. value, competition, goal setting, inflation, taxation and debt.
The game of the present invention also promotes an innovative solution to the teaching of younger children by providing an ethical, humanistic personal value system, which engenders trust, honesty and fairness. The game of the present invention, through the game activities, teaches the younger child personal values such as, but not limited to, responsibility, balance, control, respect, fairness, honesty, integrity, team work, ambition, patience and delayed gratification.
In addition, the game of the present invention is a fun and entertaining experience for the younger child while providing him or her with a jump-start in the financial world, teaching the child responsibility, fiscal balance, control and respect. The game of the present invention is played in an Internet setting that is widely accessible, highly diverse and with global appeal. Thus, the game of the present invention provides educational value in a setting that engages younger children though the activities native to their economy. Hereinafter, the xe2x80x9cyounger childxe2x80x9d or younger children are referred to generically as xe2x80x9cchildxe2x80x9d or xe2x80x9cchildrenxe2x80x9d.
In light of the foregoing, it is an object of the present invention to provide an Internet-based game for teaching personal values and financial responsibility to a younger child, thereby overcoming the various deficiencies and shortcomings of the prior art, including those outlined above. It will be understood by those skilled in the art that one or more aspects of this invention can meet certain objectives, while one or more other aspects can meet certain other objectives. Each objective may not apply equally, in all its respects, to every aspect of this invention. As such, the following objects can be viewed in the alternative with respect to any one aspect of this invention.
It is an object of the present invention to enable the younger child to engage with a virtual collectible creature awarded in the game of the present invention where the virtual collectible creature is imbued with artificial intelligence characteristics, mimicking the conventions of a financial instrument.
It is an object of the present invention to be a public relations tool to be used by a financial institution to build relationships with families through education of the younger child in personal values and financial responsibility, by providing the game of the present invention to the younger child.
It is an object of the present invention to provide a marketing system between a financial institution and a retailer by providing the game of the present invention to the younger child through the auspices of the financial institution and by providing redeemable awards at the retailer.
It is an object of the present invention to provide retailers with a marketing campaign and a loyalty system of generating multiple new hobby activities and continued interest through the inexpensive creation and replication of a virtual collectible creature.
It is an object of the present invention to provide a retailer with a game that is a means of supporting the educational goals of schools and parent while still promoting the retailer""s individual marketing agenda.
It is an object of the present invention to provide the game of the present invention to be used by a teacher to teach a younger child personal values and financial responsibility, where the risk of losing real dollars is removed.
It is an object of the present invention to provide the game of the present invention to be used by a teacher to motivate a younger child with awards of a virtual collectible creature.
It is an object of the present invention to provide technology which may be used for near-money and customer profiling applications.
Other objects, features, benefits and advantages of the present invention will be apparent from this summary and subsequent descriptions of the various preferred embodiments and will be readily apparent to those skilled in the art having knowledge of various children""s educational games, such as, but not limited to, Internet-based games for teaching personal values and financial responsibility to a younger child.